FG Recommits To Fix Redundant Refineries

The Federal Government has reiterated that its target to increase crude oil production to the national target of three million barrels per day and reserves of 40 million barrels before 2023 as well as fixing its refineries remain on course.
The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mele Kyari, said this during the Seplat Energy Summit 2020 tagged: “Business Sustainability and Strategic Leadership in Africa” organised by Seplat in Lagos, yesterday.
Kyari noted that the role of the oil and gas business in the continent was huge and cannot be swept under the carpet as regards its sustainability, and explained that the Federal Government was focused fully on bringing down the cost of production and focus on gas.
“According to a report, Nigeria will contribute 25 per cent to the total population in Africa by 2040 and what we can do is to make our operating market competitive by bringing down the cost and production and focus on the business of gas”, he said.
Furthermore, he called on other African countries to leverage the opportunities in renewable and gas energy, noting that it was important to have for each country to connectivity within the continent.
According to him, economic activities within the continent will tend to play a part in the NNPC’s drive towards sustainability but Africa remains the next destination of oil and gas businesses.